New Capital Management LP Has $8.85 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

New Capital Management LP trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the fourth quarter, Holdings Channel reports. The fund owned 58,170 shares of the company’s stock after selling 135 shares during the quarter. PepsiCo accounts for 2.6% of New Capital Management LP’s portfolio, making the stock its 9th largest holding. New Capital Management LP’s holdings in PepsiCo were worth $8,845,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of PEP. International Assets Investment Management LLC raised its position in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. State Street Corp raised its position in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. raised its position in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Swedbank AB grew its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded up $2.00 during mid-day trading on Monday, reaching $144.64. The company had a trading volume of 3,539,900 shares, compared to its average volume of 6,714,237. The company’s 50-day moving average price is $157.35 and its 200-day moving average price is $166.50. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The firm has a market cap of $198.44 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.75%. PepsiCo’s payout ratio is 79.94%.

Analyst Ratings Changes

Several analysts have recently commented on PEP shares. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $180.64.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.